Tencent Takes a Minority Stake in MD Pictures (FILM.JK)

Photo: MD Pictures 

English.investasimu.com. PT MD Pictures Tbk (FILM.JK) announces Tencent Holdings Ltd. (Tencent) as a new shareholder of the Company. Based on the information released by the Company on Thursday (10/21), Tencent owns minority interests in the Company without disclosing the specified amount.

"We are excited to welcome Tencent as a new investor in FILM," said Manoj Punjabi, Founder & CEO of MD Pictures in a written statement. "This investment reflects Tencent's ongoing commitment as a cutting-edge technology company to develop the content industry globally," He added.

The company stated that the investment shows Tencent's positive view of the content industry in Indonesia. In addition, it also shows Tencent's strong belief in market leadership and MD Pictures' growth potential.

Tencent becoming a new investor of the Company occurred shortly after Manoj Punjabi sold his 1.39 billion shares in the Company on Friday (10/15). With a selling price of IDR500 per share, the proceeds of the transaction reached IDR695 billion. No information was obtained on who the buyer of the 1.39 billion shares was.

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